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1 November 2016
Press Release

 

BC Marketplace-102

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BARTERCARD NEW ZEALAND LAUNCHES ONLINE MARKETPLACE

Target of $500 million turnover a year by 2020

As the cash-free economy continues to grow, Bartercard NZ has launched an online marketplace for its thousands of members to make trading even easier.
 
More than 16,000 account holders throughout New Zealand belong to Bartercard, with more than $200 million worth of goods and services traded annually.
 
The company has ambitious growth plans, and Chief Executive John Scott says the new Marketplace – launching on Tuesday, 1 November – is a major step in that direction.
 
“Marketplace will greatly enhance our members’ experience, streamlining the trading process and giving them the ability to control what promotions they want to see and when they want to see them. It also analyses their search interest, provides insights and suggests deals they may not have thought of.”
 
Scott says the single gateway allows members to access all Bartercard portals via just one application, allowing for better management and a smoother end-to-end process, with more products and features being added to Marketplace over the coming months. “We’re continually improving our digital offering as we have identified this as an area where significant growth can be achieved. 
 
Scott says the Marketplace launch follows research undertaken to better understand what information Bartercard members want to receive, how and when.
 
“We combined their feedback with comments from our trade brokers and developed this new platform to give Bartercard members greater control and improved trading opportunities across the network,” he says.
 
Features of Bartercard Marketplace include:
 
  • A browsing platform for member listings and promotions, products and services
  • A streamlined process for receiving national promotions across the network
  • Members can choose what they want to receive and when
  • Analytics and targeting based on what members have selected to receive, as well as data on their own products and services
 
“It opens up greater opportunities to trade and enables us to become far more efficient in providing timely and relevant promotions to our members,” says Scott.
 
The launch of Marketplace ties in with the Bartercard Online Trade Show which runs from 1 to 15 November.
 
Scott says the key sectors active in Bartercard NZ are professional services, hospitality, automotive, construction and building, and food and drink.
 
ENDS
 
For more information, or to arrange an interview with John Scott, please contact Annie Hogan at Lassoo Media and PR on 021 725 259 or annie@lassoo.co.nz
For Media Queries: Contact Tina Burns, National Marketing & Communications Manager, Bartercard on 021 1011518 or tina.burns@bartercard.co.nz
 
About Bartercard: Following Bartercard’s creation in Australia in 1991, Bartercard New Zealand became the first international licensee a year later. Since its inception, the Bartercard Trade Exchange has grown to more than 16,000 account holders across New Zealand trading over $200 million worth of goods and services outside the cash economy each year. Bartercard operates in New Zealand, Australia, United Kingdom, India, South Africa, United States, Thailand, United Arab Emirates, and Cyprus. 
 
August 2016
Press Release

 

Batrercard feedback

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IN A DEAL WORTH $22.5M CASH, $2.5M IN SHARES AND $5M RAISED FOR COSTS AND WORKING CAPITAL, BPS TECHNOLOGY LIMITED, WHO OWNS BARTERCARD, IS TO ACQUIRE ENTERTAINMENT PUBLICATIONS AUSTRALIA AND NEW ZEALAND.


Entertainment Publications Australia and New Zealand is a popular and prominent business-to-consumer (B2C) deals platform which produces the Entertainment Book and the Entertainment Digital Membership.  It has 550,000 members and a relationship with 12,000 SMEs and 18,000 NFPs. 
 
The collaboration will provide many exciting opportunities for both partners.  The vendor of Entertainment Publications, Mr Ben Johnson, who will remain as Chairman of Entertainment after completion, said, “Entertainment Publications and BPS share the same culture and values, making this a natural win for both companies. They share the same vision for providing marketing solutions to businesses, value to customers, and support to community organisations and the charitable sector. It is a win-win for everyone.” 
 
As part of the acquisition process, BPS undertook a detailed financial and legal due diligence on Entertainment. Further detail on the acquisition is set out in the presentation announced to ASX. 
Mr Trevor Dietz, CEO of BPS Technology said “I am delighted to welcome Entertainment into the BPS group. Entertainment is an excellent business led by an ambitious team who share our core values. We expect the joining of our longstanding, valuable business networks to deliver an increasingly compelling value proposition to merchants, consumers and not-for-profits. This acquisition brings several attractive near-term growth opportunities within reach, the benefits of which will flow to new and existing BPS partners, merchants and shareholders.” 
 
It is anticipated the settlement of the acquisition will be completed mid-September 2016. 
 
 
Highlights: 
 
  • BPS to acquire Entertainment Publications Australia and New Zealand, a leading business-to-consumer (B2C) deals platform which produces the Entertainment Book and the Entertainment Digital Membership 
 
  • Acquisition set to boost BPS’ growth profile with FY17E pro forma revenue growth of 118% and FY17E pro forma EBITDA growth of 49%. Significant future growth potential with the combined BPS group benefiting from a network of 36,000 SMEs, 18,000 NFPs and 550,000 paying customers (“Members”) 
 
  • BPS successfully completes institutional placement, raising $27.5 million to fund the Entertainment acquisition and to provide growth / working capital 
 
  • Institutional placement was significantly oversubscribed with strong demand received from institutional and sophisticated investors 
 
  • All eligible BPS shareholders invited to participate in a non-underwritten Share Purchase Plan at the same price as the placement ($0.94 per share) 
 
About BPS Technology Limited (ASX: BPS): BPS Technology Limited is a leading provider of technology platforms and management systems in the Digital Payments space for Small to Medium Businesses (SMBs) in eight countries. Its technology platforms and systems help to drive customers to its SMB merchants. More than 24,000 SMBs transact in excess of 1.8m transactions worth $600m+ per annum using its various technology platforms. BPS earns fees on all transactions over the platforms via its subsidiaries Bartercard, TESS and bucqi. 
 
About Entertainment: Entertainment Publications is a business-to-consumer (B2C) deals platform with an established model proven over 21 years of profitable operations. Entertainment provides restaurant and activity guides with special offers from more than 12,000 SMEs to consumers across Australia and New Zealand. 
About Bartercard: Bartercard operates the world’s largest trade exchange. It allows small to medium businesses to conduct business transactions without the use of cash. There are 50,000+ card holders in 8 countries currently. Bartercard transactions can be conducted online, via its mobile app, across more than 7,000 bank EFTPOS terminals and on bucqi terminals. 
 
About bucqi: bucqi is a disruptive technology based around a loyalty platform designed for SMBs combined with a robust and innovative mobile payment app for both merchants and consumers. The payments platform has been two years in the making and has a number of patents pending. It allows consumers to easily pay for goods and services without taking out their wallet or swiping their credit card and they earn and redeem reward points via a wide range of participating suppliers. It has been launched in three regional cities in Queensland Australia and Wellington in New Zealand.

For more information, please contact:
Trevor Dietz
CEO, BPS Technology
+61 7 5561 9111
trevor.dietz@bpstechnology.com
 
August 2016

 

Grow your business

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A NEW EBOOK FROM BARTERCARD IS DESIGNED TO HELP BUSINESS OWNERS SEPARATE KNOWLEDGE AND EXPERIENCE FROM AN ENTREPRENEURIAL PERSPECTIVE – ALLOWING THEM TO IDENTIFY POINTS OF WEAKNESS IN ORDER TO CLARIFY END GOALS.


As a small business owner, you’re always busy, wearing many hats at once in the hope of seeing even the smallest signs of success. Some days are rewarding while others can’t end soon enough, and every morning, no matter what, you wake up with renewed energy to get in, get dirty, and get the job done.

Just going through the motions, however, isn’t always enough. It’s a cliché, but it can never be said too many times – in order to truly be effective as a small business owner; you must start working on your business rather than simply in your business.

Fortunately there’s now a new tool to help show you how. Bartercard’s new eBook, The 7 habits of Highly Effective
Business Owners, provides opportunities,  bite sized hints and tips to help small business owners manage their business more efficiently. It reveals how to grow a solid customer base and keep staff happy, while streamlining processes.

Underpinning all of this is how a network, such as Bartercard, can help SME businesses achieve this goal through the use of ‘lightbulb moments’.

The eBook recommends business owners put their energy in the right place to do what it takes to build a great company while still balancing the day-to-day expectations of their role at the helm.

However, as the authors point out, “business acumen isn’t the same as knowing how to approach a new enterprise from the right viewpoint. All the practical experience in the world can’t give you the skills needed to lead the troops if you’re used to spending time in the trenches”.

The eBook’s seven habits are based around:

• Learning how to roll with the punches.
• Exploring the art of long and short-term plans.
• Monitoring cashflow and spending.
• Working with the professionals vs. DIY opportunities.
• Embracing technology, and
• Being open to change.

It’s a resource designed to help SME owners separate knowledge and experience from an entrepreneurial perspective, allowing them to identify points of weakness in order to clarify end goals.
 
HOW TO THINK

It has been said there’s no way to anticipate what the future will bring, which is why being a highly effective small business owner is more about how to think, rather than
what to think.

A successful owner must balance working on the ground within a company as well as from a higher, holistic level. A good leader is always thinking ahead, anticipating possible outcomes, creating long-term and short-term game plans, and investing in tools designed to benefit him /her in the long run.
And, as the book expounds, “most of all, he or she is willing to take the time to learn more about what it means to be truly great as a business owner”.
 
SHORT AND SWEET RESOURCE

Intended to be short, sweet, and consumed in a single sitting, The 7 Habits of Highly Effective Small Business Owners is an all-purpose resource for what it takes to make a difference in your business.
By providing the key skills necessary to keep you on the right track, you’ll always be able to focus your energies in the right place: on the overall health and success of your business.

 
If you would like to download a copy of this article please click here
 

45 NZB AUGUST 2016

 
 
June 2016

 

WigWednesday Newsletter Banner

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BARTERCARD IS DELIGHTED TO BE A PROUD PARTNER TO THE CHILD CANCER FOUNDATION, A CHARITY SUPPORTING CHILDREN WITH CANCER AND THEIR FAMILIES

It's #WigWedNZ! The Foundation will be running New Zealand’s first ‘Wig Wednesday’ next week – a fundraising day with a difference, and we’ll be getting involved!

 
Wig Wednesday will take place on Wednesday 22 June, so why not get your work colleagues involved, have a little bit of fun along the way, and help raise funds for this worthy cause.
 
More than three children are diagnosed with cancer each week in New Zealand. The Child Cancer Foundation is there to provide essential support to these children, and their families, from the time of diagnosis, throughout their treatment and beyond.  Bartercard wants to help support these children and their families by takin part in Wig Wednesday and you can do the same.  As a stand-alone charity, the Child Cancer Foundation receives no direct funding from the government, so it relies on the generosity of New Zealanders to help deliver its vital assistance to families when they need it most.
 
It’s easy to get started for your Wig Wednesday campaign!  Simply click on the link, complete the registration short form and everything you need to get involved will be provided! 

http://www.childcancer.org.nz/How-you-can-help/Our-campaigns/Wig-Wednesday-Form.aspx
 
And why not check out our social media pages on Wednesday 22 June to see who has the craziest wig!



 
 
April 2016

 

Bartercard feedback

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IN 2013 BARTERCARD NEW ZEALAND
CEO JOHN SCOTT EMBARKED ON A REMARKABLE TRANSFORMATION PROJECT;  A TRANSFORMATION THAT
CAN PROVIDE LESSONS FOR ALL
SIZE BUSINESSES.


When John Scott took on the role of chief executive of Bartercard New Zealand in January 2013 he knew he had a challenge ahead. He also knew he held the ideal skillset, having spent the previous seven years as GM of credit information bureau Dun & Bradstreet, ten years as Auckland manager for Thomson Reuters, and time in his native UK working for a business and financial information services company.
 
“I come from an innovation background,” he says. “My specialty is looking at relationships, identifying what needs to be changed, and getting buy-in”.
 
“It’s all about sharing the learnings and developing the talent that you have.”
 
Bartercard celebrates its 24th anniversary here this year. It has 7,000 member businesses across New Zealand, 15,000 cardholders, 13 local branches, 125 staff and trades more than $200 million worth of goods and services outside the cash economy annually. It’s what Scott calls an “enigma brand” - but in many respects it was a mystery and due for an overhaul.
 
Scott was attracted by the prospect of utilising his skills in formulating and executing strategy - and by the calibre of Bartercard New Zealand’s board at the time.
 
“I recall all my interview questions were around people. The brief was to develop the people, define the strategy and build it all around the culture.”
 
Top priority was to simplify Bartercard’s message and provide more transparency around such things as fees and marketing services. Scott says the website and information about Bartercard wasn’t transparent to non-members. “There was way too much confusing information. The site had to be simplified; we had to better explain what we’re about.”
 
“And rather than just be operationally efficient, we had to be more innovative,” he says.
 

PEOPLE, PROCESS, PERFORMANCE
 
Under Scott’s leadership there’ve been changes under the broad banners of people, process and performance.
 
Initially, he held a series of staff meetings around the country to allow everyone a say on the issues. “Out of that process we came away with three big binders of information, which we distilled down to what became our five-year strategy.”
 
“It’s all about unlocking talent; moving away from a hierarchical, vertical, silo-type culture to a faster, flatter, team-based partnership model,” he explains. “Teaching people to be coaches and mentors rather than managers; moving from a competitive to an achievement-based culture, and looking at how we can all contribute to the wider success of the business.”
 
Don’t impose [your will] on your people, advises Scott. “Get them to see that there has to be change, and to buy into it because they believe in that change, and they’ve been listened to.”
 
To prove just how people-focused the company has become, there have been 42 internal promotions over the past two years.
 
As for process - the key has been simplicity; moving away from completely bespoke internal development. The focus now is on SaaS (software-as-a-service) partnerships - for example Xero, Promapp and Office 365 ñ switching from a cap-ex model to an op-ex one.
 
“We’ve moved to far more nimble, agile, integrated solutions that you can literally plug and play into your business. In terms of process we’ve moved from an art, to a science,” Scott explains.
 
Performance comes through encouraging an empowerment-based culture. To do that you must celebrate successes, he says. “Over 90 percent of our employees now have some form of bonus or “at risk” element in their total [remuneration] package. So if the company is successful, they get rewarded.”
 

SIMPLE MESSAGE
 
Scott’s vision for Bartercard is for it to be the “sales growth network of choice for all New Zealand businesses.” His simple message is “We bring you more sales.”
 
“We want to grow small business sales by ten percent or more in the first 12 months within the Bartercard community,” he says, adding that the ten percent figure is based on research into the company’s historical data across all clients, which reveals average sales growth over the first 12 months of 9.8 percent, continuing through to 24 months.
 
That same data also revealed that 43 percent of new Members’ cashflow improved within 12 months because they were able to offset some of their cash expenses, whilst 38 percent stayed the same as they were already paying to standard terms.
 
And, believes Scott, what’s particularly interesting, especially to businesses with a high supplier churn rate, is the high loyalty factor of Bartercard’s community network. “If you’re two years in the network, 78 percent of the time you’ll be dealing with the same people. At three years it’s 73 percent and at four years it’s 70 percent. I think that’s quite amazing in terms of longevity of relationships.
 
“People do not understand the scale of the [Bartercard] business. We’re actually a tool to help you grow your business.”
 
Bartercard complements your cash business, he adds. The “sweet-spot” is five to 15 percent of overall sales. It allows you to improve margins and expand, without the need for discounting. And it’s particularly effective for generating income from where you would have idle capacity (think vacant motel rooms or cafe tables).
 
But it’s no magic bullet - just like the cash economy, results are directly linked to time and effort put in. If you want to grow sales by say ten percent, you have to contribute ten percent of your time to make it work, suggests Scott. “You also have to commit to changing from some of your existing suppliers; and focus on promoting your goods and services within our network.”
 
However, he stresses that the network does not offer as many unlimited choices when it comes to spending trade dollars (Bartercard’s proprietary digital currency), unlike the cash economy. “So you have to be creative in how you utilise those dollars.”
 

TECHNOLOGY BASED
 
Having been bought back by its Gold Coast parent company, Business Payment Solutions, 12 months ago, the plan is to evolve Bartercard into a technology-based organisation. “Our goal is to be number on in digital currencies,” says Scott. “We want to move to digital payment solutions based on smartphone technology.”
 
A number of platform updates are underway, including a more intuitive Bartercard Maps, which helps members locate each other more easily. There will also be a new B2C app, Bucqi - an everyday rewards programme to attract more sales for small business. Although strictly speaking a B2B2C solution, because it’s based on trade dollars, Scott describes it as a “beautifully elegant solution; a way of bringing a whole new cash audience of consumers to your business.”
 
It’s Scott’s wish to keep Bartercard heading down the innovation pathway.” focus is on developing our people and investing in their futures, as they will always drive innovation.”
 
As for his own personal highlight from his first three years in the job? “It was the day Bartercard handed over a cheque to Child Cancer for $113,000. The proceeds from our 2015 one day fundraising appeal. That was a very special, and humbling, experience.”

 
If you would like to download a copy of this article please click here
 

NZBUSINESS.CO.NZ 37
 
36 NZB APRIL 2016


 
 
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